Samsung Life buys minority stake in Hayfin
Samsung Life Insurance is acquiring a minority stake in Hayfin Capital Management from Arctos Partners, in a bid to broaden the asset manager’s institutional investor base.
The deal builds on Hayfin’s recently announced strategic partnership with Mubadala Investment Company and AXA IM Prime, a business unit of AXA IM, which saw both firms acquire a minority interest in Hayfin.
Additionally, the Samsung Life transaction strengthens Hayfin’s footprint in South Korea.
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Hayfin said that the addition of a third institutional minority shareholder represents the next stage in a coordinated post-management buyout (MBO) plan led by Hayfin and Arctos, with Arctos continuing to provide long-term strategic support through its Keystone platform, which provides capital and liquidity solutions to financial sponsors.
The resulting shareholding has enabled the Hayfin team to become majority owners of the firm’s common equity.
Completion of the deal is subject to regulatory approval.
“This strategic partnership with Samsung Life is another strong endorsement of the franchise we have built,” said Tim Flynn, co-founder and co-chief executive at Hayfin.
“It completes our plan to bolster Hayfin’s shareholder base post-MBO through the addition of best-in-class institutions from across the globe onto our platform. Through establishing this partnership with Samsung, we look forward to deepening our commitment to the South Korean market, where we see investor demand for investment strategies continuing to grow.”
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Joonkyu Park, CIO of Samsung Life Insurance, said: “We are very excited to partner with Hayfin, a recognised leader in the European market, and this strategic partnership will play a vital role in the growth and global expansion of Samsung Life’s asset management business.
“Hayfin has built an excellent long-term historic investment track record and will continue to provide a broad array of attractive investment opportunities, further strengthening our focus on the private capital market. We look forward to supporting Hayfin’s ongoing growth alongside Arctos, Mubadala, and AXA IM Prime.”
Hayfin has €34bn (£29.4bn) in assets under management, across its private debt, liquid credit and private equity solutions businesses.
